The row over the legislation on mortgage rates going through the Dáil has highlighted much more than the high costs many thousands of people are paying for their home loans.

Half-term reports due next week from two of Ireland’s diminished roster of lenders — Bank of Ireland and Permanent TSB — will likely reflect something of the two-speed turnaround for the once battered banking sector.

Bank of Ireland has said it has seen a further decline in loan default cases in the second half of this year, with customer deposits also increasing.